Ryerson (NYSE:RYI) Lifted to Hold at ValuEngine

ValuEngine upgraded shares of Ryerson (NYSE:RYI) from a sell rating to a hold rating in a report issued on Monday morning, ValuEngine reports.

RYI has been the subject of a number of other research reports. Deutsche Bank set a $10.00 price objective on Ryerson and gave the company a hold rating in a research report on Thursday, July 11th. Zacks Investment Research upgraded Ryerson from a strong sell rating to a hold rating in a research report on Wednesday, September 11th. Finally, BMO Capital Markets reduced their price objective on Ryerson from $9.00 to $7.00 and set a market perform rating for the company in a research report on Monday, August 26th.

Ryerson stock opened at $9.47 on Monday. The stock has a market cap of $361.18 million, a PE ratio of 8.85 and a beta of 1.92. The company has a debt-to-equity ratio of 8.94, a quick ratio of 1.06 and a current ratio of 2.46. Ryerson has a one year low of $5.99 and a one year high of $11.89. The stock has a fifty day moving average of $7.51 and a 200 day moving average of $8.32.

Ryerson (NYSE:RYI) last posted its quarterly earnings data on Monday, August 5th. The basic materials company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.32). The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Ryerson had a net margin of 2.56% and a return on equity of 56.51%. The firm’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS. As a group, sell-side analysts predict that Ryerson will post 2.16 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp increased its position in Ryerson by 19.4% in the second quarter. Van ECK Associates Corp now owns 29,074 shares of the basic materials company’s stock worth $242,000 after buying an additional 4,718 shares in the last quarter. Bank of America Corp DE increased its position in Ryerson by 10.5% in the fourth quarter. Bank of America Corp DE now owns 50,832 shares of the basic materials company’s stock worth $323,000 after buying an additional 4,846 shares in the last quarter. WINTON GROUP Ltd increased its position in Ryerson by 6.2% in the second quarter. WINTON GROUP Ltd now owns 85,981 shares of the basic materials company’s stock worth $716,000 after buying an additional 5,015 shares in the last quarter. Victory Capital Management Inc. increased its position in Ryerson by 36.6% in the first quarter. Victory Capital Management Inc. now owns 140,840 shares of the basic materials company’s stock worth $1,206,000 after buying an additional 37,765 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in Ryerson by 120.1% in the second quarter. Prudential Financial Inc. now owns 497,166 shares of the basic materials company’s stock worth $4,141,000 after buying an additional 271,322 shares in the last quarter. Institutional investors and hedge funds own 35.65% of the company’s stock.

About Ryerson

Ryerson Holding Corporation, together with its subsidiaries, processes and distributes industrial metals in the United States, Canada, Mexico, and China. The company offers a line of products in stainless steel, aluminum, carbon steel, and alloy steels, as well as nickel and red metals in various shapes and forms, including coils, sheets, rounds, hexagons, square and flat bars, plates, structurals, and tubing.

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